AlpaFX Trading (RAS ID: 30763) - page 2

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PipsAndTips.com:
The problem here is not the lack of performance or negative weekly or monthly sheet (all systems can fail every now & then & be at a loss), but the incredibly irresponsible & insulting attitude of the provider.

The vendor states that "our signal was down completely becuase the GBPJPY raises more than any technical analysis could expected at this moment".

This is outrageous. Such gamblers should not even trade GBPJPY to begin with. as for analysis - I doubt ANY analysis, even bad, can result in a disaster of such proportions. It's hilarious that after such a catastrophe the person still has the nerve to say that a pair raised more than ANY analysis could expect, as if they had seen any real analysis or taken any into account!!

"Sorry if you have lost any penny but this is FOREX" - in other words "you should have known better", right? I was not a client of this service but if I were this phony apology would not be acceptable.

May I suggest RAS to properly monitor such cases - it's inevitable that every now & then irresponsible people would provide services against a fee, but such providers (even in small numbers) could throw a shadow of doubt on the entire RAS community & prompt traders & investors to lose confidence in ALL PROVIDERS. I doubt a guy like Tekk after losing 91% of his account will run to the next signal provider to get his money back. And who could blame him? We ALL need damage control!

The signal (same with any signal) will be suspended automatically based on inativity.

As to damage control so I understand it as vendors' control. Damage control will be possible if

- I (as moderator) know the vendor,

- we (as the members of the forum) know his username

and

- he is well-known person,

- we all know his system

and

- his personal EA (of course, he is the author/owner of his EA he is using, right ) is well-known and fully evaluated as commercial or as free on the forum.

If none of above written is possible so the only way to use is the following: this section of the forum posting opinion about any vendors and their systems.

 

You're right newdigital, there's no way you can be responsible for the damage already caused by a provider - I was not suggesting that. I was referring to controlling the damage to our IMAGE & the reputation of RAS as a serious signals providers' marketplace, now after the fact. The customers need to know that this is an isolated case & not put us all in the same bag.

By suspending a signal that's causing exagerrated drawdowns (10k pips is exagerrated by any standards) you are already doing damage control - first by stopping further losses in the followers' accounts & reassuring RAS clients such cases don't go unnoticed.

 

I am not talking about responsibility.

I am talking about what I need to moderate the RAS/vendors with fully controlling them or their systems.

I was talking about what I need (as moderator).

As to damage so it may be 2 solutions:

Way #1. Strict rules where well-known people can be the vendors only. But in this case - we will have just 5 or 10 vendors totally. Yes, it may be very safe but it will not be mass service;

or

Way #2. Use evaluation in the same way as commerial setion of the forum. In this case - members of the forum are having more power then moderators of RAS/forum: they can direct the moderators for some action: suspend the signal, make any action related to any signal.

So, we are working on the way #2 now. And I am suggesting to all the members to understand their power and use it. I want to say that whole the forum was created under this way #2.

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Damage rules ... if you are talking about max floating drawdown based on equity ... it depends on the vendor's lot size and initial deposit size.

Yes, I agree - it may be implemented some limitation for that. But it should be discussed about which limitation.

1,000 dollars max floating drawdown for 0.01 lot size is very big drawdown, but it is small drawdown in case of lot size = 1. The other questionable figures - martingale and similar: lot size is inreased from 0.01 to 1.0 with max trades 50 or 80 ... so max floating dd as 1,000 may be small in case the signal is traded for many months or 1 year. Same with the time: how lon this signal are traded on RAS: more "old" signals are more valuable of course.

So, it should be found some criteria for this "automatic drawdown limitation".

But any way - it will be post factum ... (after the case happened).

or just make the separation: separate martingale/hedge (extreme systems) to one place, and such as 'old classical' to the other place. Same as we did on the forum: martinale systems on the forum are located on one section only, newstrading - the other setion, signal systems - next secion, and so on.

In this case, if someone wants to follow some system (martinale for example) - he can go to the setion where all the followers are located.

The other idea is to create some kind of VIP vendorship.

I agree with you, and I think that the decision will be found anyway. Because almost all the ideas were created by the members of the forum so we are having big power about what to do and how to proceed for example.

 
activeFXtrader:
Hi guys,

Yes, our signal was down completely becuase the GBPJPY raises more than any technical analysis could expected at this moment. I am really sorry if you have lost any penny, but this is Forex. In this case we losed with our bet, because all our accounts and signals are real.

Sincerely,

ActiveFXtrader

it would have been good if you mentioned that as soon as you knew so that those using your signals could have put some risk management in place.

 

Yes, I can confirm that: real account.

I see from my mod panel:

Last orders were made from live account

So, this vendor used real live account (not demo).

I can not see (in mod panel) deposit size and name of the broker sorry.

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